1) Market Trend in King
So even if TCS got a 700 Mil+ order it will trend in the direction on the overall market. No stock can escape it in either direction. Even a stock without fundamentals is bound to go up in a BULL run and vice versa , the hottest stock of the year GOOGLE will go down when the markets do .
2) Watch where your sector is going .
Make sure the stock which you selected is trending with the MARKET KING. Avoid sectors which are not moving with the overall market. If you plan to trade something which does not belong to any index then select a an average of some similar stocks to make up a sector index.
3) Watch longer term charts of your stock .
Use a 39 Min or a 13 Min chart of your stock. Use a trending indicator to follow its trend .
4) Make the best entry point
Use a 3 or 5 Min chart to enter your stock in the direction of the 13 Min , Sectorial and Overall Market . Use a breakout system to make a good entry . Dont , dont , dont go against 13 Min direction. Be on the right side always.
You will find big and fast moves using this system cause this is how fund managers think. They are constantly trying to beat the index. A Funds performance is judged by how much more it gains over the market index in either direction.
The BUY and SELL arrows are generated themselves. Its an expert system which metastock comes with . It makes my work a lot easier. You still have to configure it to your taste.
6) I use tick data to make decisions . Nothing less will do. With tick data you choose your time frame.